Senior Writer & Content Specialist, India
Berlin-based Delivery Hero had a presence in India through Foodpanda, which it sold to Ola in December 2017.
The export-focused company plans to use the funding to scale the business in its current geographies and expand into regulated markets.
Priestly was earlier the regional head of global banking for Africa, West Asia, and Pakistan at Standard Chartered bank.
Under the terms of the deal, which is expected to close by February-end, SIS would acquire the remaining 40% stake each in the firms between October 2020 and April 2024.
The fresh round of funding was joined by existing investors Skycatchr, AdvantEdge and Astrac Ventures.
Indian ride-hailing major Ola has reportedly more than halved its budget for Foodpanda in an attempt to focus on private label brands to boost growth.
The VC firm had achieved a final close of $50 million for its second fund DSGCP II in August 2017.
This comes almost six months after Sequoia closed its $695-million fund targeting early and growth stage investments across the region.
Kapiva Ayurveda’s round also saw participation from 3One4 Capital, Madhu Kela of Reliance Capital and GITS Foods.
SE Asia will sustain growth momentum in 2019 as Grab, Go-Jek and Tokopedia continue to attract capital, per a Cento Ventures report.